4) Using weighted average cost, calculate ending inventory and cost of goods sold

5) calculate sales revenue and gross profit under each of the four methods

Required information Problem 6-2A Calculate ending inventory, cost of g ds sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4,6-5) [The following information applies to the questions displayed below.) Greg's Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system. Units Total Cost Beginning inventory Sale (5210 each) Sale ($260 each) Transactions Unit Cost $155 $3,100 Date March 1 March 5 March 9 March 17 March 22 March 27 March 30 Purchase 175 1,750 20 15 10 8 10 12 9 185 1,850 Purchase Sale ($285 each) Purchase 205 $8,545 For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. (Round your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold 5. Calculate sales revenue and gross profit under each of the four methods, (Round weighted average cost amounts to 2 decimal places.) Specific Identification FIFO LIFO Weighted- average cost Sales revenue Gross profit